Geopolitical risks are a growing concern for boards: Airmic
Six out of ten risk managers believe that geopolitical tensions will become harder to manage for businesses in the next three years.
The survey, published by the Association of Insurance and Risk Managers, found less than a half of respondents are confident in their organisation’s ability to respond effectively to a geopolitically driven event, with less than 10% of those surveyed saying they are ‘not confident’.
According to Alastair Swift, head of corporate risk and broking, GB, Willis Towers Watson, risk managers need to take a “multidisciplinary, integrated approach” if they are to manage these risks effectively.
Swift said: “With geopolitical uncertainty dominating news headlines, now is the time for risk managers to take the lead. Our research makes clear that they will need to work across, as well as up and down, their organisation.”
This five-part analysis is based on the responses of Airmic’s 2019 member survey, which surveyed 157 members and forms part of its 2019 research project: Risk Management: Vision 2020.
The reports, produced by Airmic in collaboration with Control Risks, Willis Towers Watson, AIG, QBE and KPMG, call for risk managers, senior management and the insurance market to take action to ensure their organisations have the necessary skills, structures and agility to keep pace.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Risk Management
Spotlight: The emerging risks in property and business
This Insurance Post Spotlight series explores some of the new and emerging risks affecting business premises and the workplace, and how insurers and brokers can help customers stay prepared.
Ageas's Linklater on climate changing the role of insurers
View from the Top: Ageas UK claims director Stephen Linklater says that more frequent extreme weather events is broadening insurers’ responsibilities.
Martyn’s Law highlights how risk management has the power to protect lives
RiskSTOP’s Johnny Thomson reflects on how a recent conversation with two people deeply affected by acts of terrorism, brought to light the positive impact insurance driven risk management is capable of having on all our lives.
ABI’s Clark says insurers can’t tackle climate change alone
Trade Voice: As the UK's extreme weather problem worsens, Louise Clark, general insurance policy adviser at the Association of British Insurers, calls on the government to take action.
City of London to host summit to champion financial services
The City of London Corporation has today (11 December) announced the inaugural Global Risk Summit in London on 21 May 2025.
Environmental Audit Committee launches flood resilience inquiry
The Environmental Audit Select Committee has launched an inquiry to identify how to boost England’s flood resilience.
Spotlight: Buildings underinsurance – a hybrid solution?
The issue of underinsurance has created a dynamic landscape of both opportunity and challenge in the field of buildings insurance valuations. Johnny Thomson explains how the current period calls for innovative solutions that align with technological capabilities, while recognising the limitations of emerging technologies
Spotlight: Buildings underinsurance – what can be done?
While tackling underinsurance can lead to greater levels of trust between an insurer and the policyholder, failure to take action can have significant downsides including reputational damage and even legal action, writes Tim Evershed